A company does NOT need to know the price of each resource it employs if it wants to determine whether or not it is achieving
A) technological efficiency.
B) economic efficiency.
C) accounting efficiency.
D) managerial efficiency.

Question

Quizplus · Accepted Answer

Technological efficiency is achieved when a company is producing the maximum possible output with the given inputs, regardless of the cost of those inputs.

A Company Does NOT Need to Know the Price of Each